OPEC+ discuss the document on permanent cooperation with 2019

© RIA Novosti / Vladimir Fedorenkova in fotomancer of energy of Russia Alexander Novak at the plenary session of the Federation Council of the Russian Federation in Moscow. 13 July 2018OPEC+ discuss the document on permanent cooperation with 2019© RIA Novosti / Vladimir Fedorenkova the image Bank

OPEC+ consider adoption of the document on permanent cooperation with 2019, said the Minister of energy of Russia Alexander Novak, speaking at the Federation Council.

OPEC+ discuss the document on permanent cooperation with 2019© RIA Novosti / Alexei Vitvitskiy in fotobabble our way: Russia will return two-thirds of oil production

«Now consider the draft agreement, since 2019, about a kind of institutionalization of relations between OPEC and non-OPEC, continuous cooperation in this direction», — said Novak.

According to him, the agreement will be of a permanent nature and will be open to all countries. «We will have the opportunity of countries-exporters of oil to consult, meet, if necessary, to make decisions that would be beneficial for export-oriented countries,» concluded Novak.

OPEC and several non-organisation countries (OPEC+) agreed in late 2016 in Vienna on the reduction of oil production to 1.8 million barrels per day from the level of October 2016, of which 300 thousand were in Russia. The deal started from the beginning of 2017 and was extended twice, most recently until the end of 2018.

In June 2018 OPEC+ agreed goal is to escape from the fulfillment of the transaction. As said the energy Ministers of Russia and Saudi Arabia, in practice, this would mean increasing production by 1 million barrels per day, including Russia 200 thousand.

OPEC+ discuss the document on permanent cooperation with 2019© RIA Novosti, Integratiebeleid in photomontaged forces in the world oil market

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